The Return to Earn Program will reimburse qualifying small business 50 percent of the funds provided to a new employee hired after May 31, 2021, but only up to $500 per new hire, i.e. if a business gives employee a $600 incentive, the Return to Earn Program will reimburse employer $300.
A maximum of 25 new hires per employer. Employer must make entire hiring incentive payment(s) to new employee, but can request reimbursement, up to a maximum of $500, as long as the requested amount represents a 50% match of what has already been paid by the employer to the employee. So an employer would have to pay a new hire $1,000 in order to get the full $500 match. (Qualifying small childcare businesses, who may be facing particularly challenging workforce shortages, may qualify for up to $500 per new hire without the requirement to match).
Employer must initially cover the full amount of hiring bonus and provide the funds directly to new hires. This can be in either one lump sum or in installments to cover the ongoing costs of childcare, transportation, or other barriers to re-employment. Verification of how funds are used by the new hire is not required.
Only employers with fewer than 100 employees across all Virginia locations may qualify for funds. The employment facility where new hires will be placed must be located in the Commonwealth of Virginia, and the employer must also be incorporated in Virginia.
Wages for new hires must be a minimum of $15.00 per hour. The position must be W-2 employment but can be part-time or full-time. Funds may only be provided to new employees hired by the employer, and the individual hired must be currently unemployed (as attested by the individual).